IPO Allotment Of Rapti Hydro and General Construction Concludes [IPO Result !!]

July 25, 2022 | Investopaper

IPO Allotment Of Rapti Hydro and General Construction Limited

Siddhartha Capital Limited, the issue manager for the initial public offering (IPO) of Rapti Hydro and General Construction Limited, has concluded the IPO allotment process on Monday.

After the allotment, 2,17,694 applicants have received 10 shares each. A total of 14,91,722 people had applied for the shares. Out of the total applicants, 1,424 applications was disqualified. More than 12.74 lakh applicants were left empty-handed.

To view the IPO result of Rapti Hydro and General Construction Limited, click the link below:

IPO Result Of Rapti Hydro and General Construction Limited


IPO To General Public

Rapti Hydro and General Construction Limited has issued 23,66,240 shares to the general public (IPO) from Ashad 29, 2079 BS. This includes 37,623 unsold shares to the locals.

Due to over -subscription of shares, the issue was closed on Shrawan 1, 2079 BS.

Out of the total shares, 70,988 shares were reserved for the employees of the company. Likewise, 1,18,312 shares were allotted to the mutual fund schemes. Therefore, the general public could apply for the remaining 21,76,940 shares.

One could apply for the minimum of 10 shares and a maximum of 21,00,000 shares.


IPO To Locals

In the first phase of the IPO, the company had sold 6,12,793 shares to the locals of the Rukum East and Rukum West district. This is 10 percent of the total issued capital of the company which stands at Rs. 61.27 crores.

Among the shares floated to locals, 5,75,170 shares were allotted while 37,623 shares remained unsold.

The IPO to locals was open from Jestha 24 to Ashad 10, 2079 BS. Previously, the issue was set to close on Ashad 7, 2079 BS. However, due to under-subscription until that period, the deadline for application was extended.

Interested locals could apply for a minimum of 10 shares and a maximum of 6,00,000 shares.

In total (including locals and general public), the hydropower will issue 29,41,410 shares in the Initial Public Offering. At a par value of Rs 100 per share, the IPO amounts to Rs 29.41 crores.

Securities Board Of Nepal (SEBON) granted the permission to the company on Jestha 10, 2079 BS for the public issuance. The company had submitted the application to the board on Bhadra 8, 2078 BS.

The company has appointed Siddhartha Capital Limited as sales manager to issue the shares.

At present, Rapti Hydro and General Construction has a paid-up capital of Rs. 31.86 crores. After the IPO, the capital will increase to Rs. 61.27 crores (if fully subscribed).

The general public (along with locals) will possess 48 percent shares in the company while the promoters will have 52 percent ownership after the issue of IPO.


You May Be Interested In:

Upcoming IPOs In Nepal

How To Apply IPO/FPO/Right Share Through Mero Share?


About Rapti Hydro and General Construction Limited

Rapti Hydro and General Construction Limited was incorporated on Kartik 5, 2065 BS (October 21, 2008). The company is currently developing Rukum Gad Hydropower Project in Rukum East District. The project is a Run-of-River type Hydropower project with an installed capacity of 5 MW.

The major promoters of the company include:

–CEDB Hydropower Development Company Limited

–Universal Power Company Limited

–Radhi Bidyut Company Limited


Recommended:

List Of Hydropower Projects In Nepal (Developed By Private Sector)

List Of Hydro-power Projects Under Construction In Nepal

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